Many people spend upwards of 20+ years in retirement, but most don’t have nearly enough money saved to get them through a time that should be filled with enjoyment, not worrying about how to make it through each month. But how much do you need? Standard advice is as much money as you can manage […]
The How and When of Retirement Savings Read More »
Britney Bunbanlu (shown left)—a 2018 Branford High School graduate—is this year’s recipient of the Alan P. Bailey and Michael J. Schaefer Memorial Accounting Scholarship. The scholarship—which was established in 2016, provides $500 of support to a Branford High School graduating senior seeking a Bachelor of Science degree in Accounting or Business Finance and has been accepted
It can be difficult to decipher legitimate communications from scams these days, especially when it comes to your taxes and finances. Unfortunately, criminals impersonating the IRS—whether by phone, email or even in person—is quite common, and costs innocent taxpayers time, money and security. However, there are some things to keep in mind to protect you
Protect Yourself and Your Business from IRS Scams Read More »
On May 31, 2018, Governor Dannel Malloy signed Public Act 18-49, which is a bill that responded to the Federal Tax Reform Legislation passed in December 2017. The Federal Tax Reform limited the deduction to $10,000 of state and local income and property taxes and this is the States response to circumvent this limitation. The Public
Connecticut Pass-Through Entity Tax Read More »
Earlier this year, Colleen Visnic, a 2017 graduate of Branford High School, was awarded the Alan P. Bailey and Michael J. Schaefer Memorial Accounting Scholarship. Colleen is now a freshman at the University of Notre Dame, and is enrolled in the Mendoza School of Business. While at Branford High School, Colleen was awarded the 2016
On June 8, 2017, Bailey Scarano partners Michael Bailey, David Bailey and Andrew Errato once again had the pleasure of participating in the Steven J. Suzio Memorial Golf Tournament. Now observing its 31st year, the event was held at Tunxis Plantation Country Club in Farmington, CT, with dinner following at the Aqua Turf Club. This is
Bailey Scarano Participates in Steven J. Suzio Memorial Event Read More »
Did you know the IRS has an internal Taxpayer Advocate’s office, whose mission is to review processes and recommend ways to improve tax laws and systems? It’s good to know there are some serious internal reviews happening, and we hope they’ll lead to improvements. In a recently released report, the advocates identified areas for improvement
Internal Report of the IRS Is In – How Did They Fare? Read More »
As 2016 came to an end, our team at Bailey Scarano celebrated another successful year with a festive holiday dinner at Goodfellas Restaurant, with family and friends joining the festivities. The evening was marked by two special occasions. First, we honored Betty Russello, an invaluable member of our team who retired after 24 years with
Bailey Scarano Celebrates 2016 Achievements Read More »
We are pleased to announce the appointment of Steve Moalli as Partner in Bailey Scarano. Steve joined our firm in 2007 and held the position of Manager and then Director of Auditing & Accounting. He leads our Credit Union Services Division and has specialized expertise in the manufacturing industry. Having earned a Bachelor of Science
Steve Moalli Named Partner at Bailey Scarano Read More »
Our Dominic Scarano and Christine Gromala welcomed visitors to the Bailey Scarano booth at The Big Connect, held November 17 at the Toyota Oakdale Theatre in Wallingford, CT. Produced by the Greater New Haven Chamber of Commerce (GNHCC) in conjunction with the Quinnipiac Chamber of Commerce, this premier annual business-to-business expo attracts thousands of professionals and
Bailey Scarano at The Big Connect Read More »
Starting in 2016, companies can offset R&D credit against payroll taxes. Even if the business doesn’t have any income tax liability, you can still use the credit to get refunds against for up to $250,000.
Research & Development Credit Better than Ever for Businesses Read More »
On November 1, 2016, Bailey Murphy + Scarano became Bailey Scarano. This new name reflects our past, our growth, and our success as a firm. The Bailey family has been providing quality accounting services for three generations. In fact, our firm has recently reached the major milestone of 100 years in business! Today, under the leadership
Bailey Scarano: 100-Year-Old Accounting Firm Gets New Name Read More »